Pretium Packaging, a provider of sustainable packaging solutions, has announced the appointment of James Rooney as its new chief executive officer (CEO). Rooney brings more than three decades of experience in the packaging industry, having held senior leadership positions at prominent companies such as DazPak Flexible Packaging, ALPLA Corporation, Owens Illinois and Amcor.
Rooney will be responsible for overseeing Pretium’s continued growth and expansion, leveraging his deep industry knowledge and proven track record of strategic leadership. His appointment comes at a time when the company is experiencing significant momentum, driven by increasing demand for sustainable and innovative packaging solutions.
Based in St. Louis, Missouri, Pretium is a provider of sustainable packaging solutions for specialized applications. Pretium specialises in designing and manufacturing a wide range of rigid packaging products, including those made from recycled materials. The company serves a diverse customer base across sectors including food and beverage, healthcare, personal care and household products.
“With its extensive range of high-quality packaging solutions and focus on sustainability and innovation, Pretium has scaled to become the supplier of choice for customers around the world. Pretium is also uniquely positioned to capitalise on continued sector tailwinds, including emerging trends in health and wellness, food and beverage, and home and personal care,” Rooney said in a statement.
“I am excited to join the company and partner with Pretium’s leadership team and employees, valued customers and the Clearlake team to drive future success in the business.”
Pretium's Growth Trajectory and Clearlake's Support
Clearlake Capital Group, a leading private investment firm, acquired Pretium in 2020. The company has since made significant investments in its operations, including expanding its manufacturing capabilities and investing in new technologies.
“He [Rooney] brings decades of packaging experience as well as a vision that complements Pretium’s service and sustainability-oriented strategy, and his operating experience aligns well with Clearlake’s OPS® [operations, people, strategy] approach,” said José E Feliciano, Clearlake’s co-founder and managing partner, and Arta Tabaee, its managing director and partner.
“Pretium is positioned to accelerate its growth and enhance its foundation of operational excellence under James, and we look forward to a successful partnership.”
Sustainable Packaging Solutions: A Growing Market
With Rooney at the helm, Pretium is well-positioned to capitalise on the growing demand for sustainable packaging solutions and strengthen its position as a leading player in the industry. The demand for sustainable packaging solutions is being driven by a number of factors, including the growing awareness of environmental issues and the increasing pressure on businesses to reduce their environmental footprint.
The global sustainable packaging market is expected to grow at a CAGR of over 7% from 2023 to 2030, reaching a value of over $400 billion by 2030. This growth is being driven by a number of factors, including the increasing consumer demand for sustainable products, the growing adoption of sustainable packaging practices by businesses, and the increasing government regulations on packaging materials.
Pretium's commitment to sustainability is evident in its use of recycled materials and its focus on reducing its environmental impact. The company is also investing in new technologies to develop innovative and sustainable packaging solutions.
Looking Ahead
Rooney’s appointment as CEO signals Pretium’s commitment to its growth strategy and its focus on providing innovative and sustainable packaging solutions to its customers. With its strong leadership team, its commitment to sustainability, and its focus on innovation, Pretium is well-positioned to capitalise on the growing demand for sustainable packaging solutions and to continue to grow its business in the years to come.
The company is poised for continued success as it leverages its innovative packaging solutions and commitment to sustainability to meet the evolving needs of its customers. As the demand for sustainable packaging continues to rise, Pretium is well-positioned to lead the industry and to be a key driver of growth in the years to come.
